Mitsubishi 2002 Annual Report Download - page 39

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37
(Breakdown of Automobiles)
Automobiles is divided into the Passenger Car and Truck & Bus divisions. In fiscal 2001, MMC sold 1,304,000 passenger cars,
down 2.3% because of lower sales in Japan. Despite the beneficial effect of the yen’s depreciation, sales in the Passenger
Car Division drifted 1.5% lower to ¥2,520.0 billion. But the division recorded a ¥114.0 billion improvement in operating profit
to ¥30.7 billion. This dramatic reversal resulted from better-than-expected progress in paring material costs and personnel
expenses as MMC advanced its Turnaround Plan.
In the Truck & Bus Division, MMC sold 101,000 trucks and buses, 8.5% fewer than in fiscal 2000, and sales declined 5.3%
to ¥680.7 billion. Nevertheless, the division achieved a 1.4% increase in operating profit to ¥9.5 billion as its turnaround
strategy gave impetus to further improvements.
(Segment Information by Geographical Region)
Sales in Japan were ¥2,198.8 billion, down 9.8% year on year. This was due in large part to a decline in unit car sales. MMC
recorded operating profit in Japan of ¥22.8 billion, an ¥84.0 billion improvement on last year’s operating loss, thanks to efforts
under the Turnaround Plan to trim material costs and personnel expenses in passenger car operations.
Sales in North America were down 1.6% at ¥896.7 billion as unit sales declined on a consolidated basis. However, cost-
cutting measures implemented locally lifted operating profit by ¥12.0 billion to ¥45.5 billion.
Sales in Europe were ¥543.1 billion, up 37.4% from the previous fiscal year as the inclusion of NedCar within the scope of
consolidation effective from fiscal 2001 boosted sales by ¥173.5 billion. The operating loss in the region narrowed by ¥12.3
billion from fiscal 2000 to ¥18.0 billion, with the consolidation of NedCar having only a minor effect.
In Asia, sales rose 3.1% to ¥157.7 billion due to the strong performance of Southeast Asian economies and operating profit
was ¥0.5 billion, a reversal of ¥2.4 billion from last year’s operating loss.
INTEREST-BEARING DEBT
Automobiles
Financial Services
NET INCOME (LOSS)
(FY)
0
500
1,000
1,500
(¥ billion)
00 01
00 01
(FY)
–300
–200
–100
100
0
(¥ billion)